If the Number of Buyers in a Market Increases from 50

question 158

Multiple Choice

If the number of buyers in a market increases from 50 to 100,you would expect the equilibrium price to ________ and the equilibrium quantity to ________,holding all else constant.

• A) increase; increase
• B) increase; decrease
• C) decrease; decrease
• D) decrease; increase
• E) remain the same; remain the same

Grasp how production levels correlate with current and desired margins.

Recognize the characteristics of perfectly elastic and inelastic demand curves.

Determine the effects of income changes on the demand for normal and inferior goods.

Calculate the own-price elasticity of demand and understand its implications.

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